Abrdn Income Credit Strategies Fund (NYSE:ACP) Shares Cross Above 200-Day Moving Average – Time to Sell?

Abrdn Income Credit Strategies Fund (NYSE:ACP)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.66 and traded as high as $5.66. Abrdn Income Credit Strategies Fund shares last traded at $5.6250, with a volume of 373,241 shares traded.

Abrdn Income Credit Strategies Fund Stock Down 0.6%

The stock has a fifty day moving average of $5.50 and a 200-day moving average of $5.66.

Abrdn Income Credit Strategies Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 23rd were paid a $0.0775 dividend. This represents a c) annualized dividend and a dividend yield of 16.5%. The ex-dividend date was Friday, January 23rd.

Institutional Trading of Abrdn Income Credit Strategies Fund

Large investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its stake in Abrdn Income Credit Strategies Fund by 4.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 382,333 shares of the investment management company’s stock worth $2,069,000 after acquiring an additional 18,000 shares during the last quarter. World Investment Advisors purchased a new stake in shares of Abrdn Income Credit Strategies Fund in the 4th quarter valued at approximately $301,000. International Assets Investment Management LLC raised its holdings in shares of Abrdn Income Credit Strategies Fund by 38.5% in the 4th quarter. International Assets Investment Management LLC now owns 892,125 shares of the investment management company’s stock valued at $4,826,000 after purchasing an additional 247,931 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Abrdn Income Credit Strategies Fund during the 4th quarter worth $1,348,000. Finally, Concurrent Investment Advisors LLC grew its stake in shares of Abrdn Income Credit Strategies Fund by 13.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 24,112 shares of the investment management company’s stock worth $130,000 after purchasing an additional 2,890 shares in the last quarter.

About Abrdn Income Credit Strategies Fund

Abrdn Income Credit Strategies Fund (NYSE: ACP) is a diversified, closed-end management investment company that seeks to provide investors with high current income and capital appreciation. The fund primarily invests in a broad range of credit instruments, including investment-grade corporate bonds, high-yield debt, bank loans and emerging-market debt securities. To enhance returns, the fund may employ leverage and use derivatives for hedging or efficient portfolio management.

The fund’s investment approach combines top-down credit allocation with bottom-up security selection.